B2Gold Corp.(BTG)Earnings, Financials & Key Ratios
BTG•AMEX
$4.24
$5.67B mkt cap·15.1× P/E·Price updated May 6, 2026
AboutB2Gold Corp. operates as a gold producer with three operating mines in Mali, the Philippines, and Namibia. It operates the Fekola Mine in Mali, the Masbate Mine in the Philippines, and the Otjikoto Mine in Namibia. The company also has an 25% interest in the Calibre Mining Corp.; and approximately 19% interest in BeMetals Corp. In addition, it has a portfolio of other evaluation and exploration assets in Mali, Uzbekistan, and Finland. The company was incorporated in 2006 and is headquartered in Vancouver, Canada.Show more
- Revenue$3.11B+63.8%
- EBITDA$1.89B+1483.0%
- Net Income$409M+164.9%
- EPS (Diluted)0.28+158.3%
- Gross Margin50.01%+34.7%
- EBITDA Margin60.52%+866.7%
- Operating Margin46.12%+453.2%
- Net Margin13.13%+139.6%
- ROE12.26%+167.4%
- ROIC30.7%+669.5%
- Debt/Equity0.17+20.0%
- Interest Coverage37.45+625.5%
BTG Key Insights
B2Gold Corp. (BTG) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓High quality earnings: Operating CF exceeds net income
- ✓Strong 5Y sales CAGR of 11.7%
✗Weaknesses
- ✗Shares diluted 13.1% in last year
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
BTG Price & Volume
B2Gold Corp. (BTG) stock price & volume — 10-year historical chart
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BTG Growth Metrics
B2Gold Corp. (BTG) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years18.86%
5 Years11.73%
3 Years21.59%
TTM61.34%
Profit CAGR
10 Years-
5 Years-8.22%
3 Years17.38%
TTM164.19%
EPS CAGR
10 Years-
5 Years-13.85%
3 Years5.27%
TTM154.93%
Return on Capital
10 Years15.28%
5 Years14.29%
3 Years11.44%
Last Year31.78%
BTG Recent Earnings
B2Gold Corp. (BTG) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 3/12 qtrs (25%)●Beat Revenue 3/12 qtrs (25%)
Q1 2026Latest
Feb 18, 2026EPS
$0.11
Est $0.20
-45.0%
Revenue
$1.1B
Est $1.1B
-7.8%
Q4 2025
Nov 5, 2025EPS
$0.14
Est $0.15
-6.7%
Revenue
$774M
Est $1.1B
-32.6%
Q3 2025
Aug 7, 2025EPS
$0.12
Est $0.15
-20.0%
Revenue
$692M
Est $702M
-1.4%
Q2 2025
May 7, 2025EPS
$0.09
Est $0.08
+12.5%
Revenue
$532M
Est $616M
-13.6%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 18, 2026 | $0.11vs $0.20-45.0% | $1.1Bvs $1.1B-7.8% |
| Q4 2025 | Nov 5, 2025 | $0.14vs $0.15-6.7% | $774Mvs $1.1B-32.6% |
| Q3 2025 | Aug 7, 2025 | $0.12vs $0.15-20.0% | $692Mvs $702M-1.4% |
| Q2 2025 | May 7, 2025 | $0.09vs $0.08+12.5% | $532Mvs $616M-13.6% |
Based on last 12 quarters of dataView full earnings history →
BTG Peer Comparison
B2Gold Corp. (BTG) competitors in Large and mid-tier gold producers — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 EGO | 5.8B | 29.33 | 11.69 | 39.93% | 28% | 12.42% | 0.30 | |
 CDE | 11B | 17.13 | 19.03 | 96.41% | 24.03% | 13.21% | 6.05% | |
 PAAS | 21.29B | 50.52 | 19.36 | 30.63% | 27.08% | 16.83% | 5.08% | 0.13 |
 KGC | 34.5B | 28.81 | 14.48 | 39.34% | 36.04% | 33.95% | 7.44% | 0.09 |
 IAG | 9.58B | 16.28 | 14.03 | 77.75% | 23.37% | 18.23% | 8.05% | 0.20 |
 AU | 45.93B | 90.98 | 17.53 | 70.78% | 27.59% | 30.8% | 6.76% | 0.25 |
 HL | 11.43B | 17.05 | 34.80 | 53.03% | 35.55% | 22.55% | 2.71% | 0.12 |
 NEM | 120.78B | 109.01 | 17.01 | 19.08% | 30.54% | 15.58% | 6.04% | 0.01 |
Compare BTG vs Peers
B2Gold Corp. (BTG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
BTG Income Statement
B2Gold Corp. (BTG) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 638.68M | 1.23B | 1.16B | 1.79B | 1.76B | 1.73B | 1.93B | 1.9B | 3.11B |
| Revenue Growth % | -6.53% | 91.81% | -5.67% | 54.8% | -1.49% | -1.68% | 11.64% | -1.67% | 63.76% |
| Cost of Goods Sold | 488.39M | 860.4M | 705.18M | 830.64M | 993.71M | 1.13B | 1.15B | 1.2B | 1.56B |
| COGS % of Revenue | 76.47% | 70.23% | 61.02% | 46.43% | 56.39% | 65.12% | 59.67% | 62.87% | 49.99% |
| Gross Profit | 150.28M▲ 0% | 364.66M▲ 142.6% | 450.46M▲ 23.5% | 958.29M▲ 112.7% | 768.55M▼ 19.8% | 604.24M▼ 21.4% | 780M▲ 29.1% | 706.2M▼ 9.5% | 1.56B▲ 120.6% |
| Gross Margin % | 23.53% | 29.77% | 38.98% | 53.57% | 43.61% | 34.88% | 40.33% | 37.13% | 50.01% |
| Gross Profit Growth % | -28.46% | 142.64% | 23.53% | 112.74% | -19.8% | -21.38% | 29.09% | -9.46% | 120.56% |
| Operating Expenses | 63.63M | 94.61M | -57.55M | -94.65M | 54.96M | 101.85M | 452.6M | 954.52M | 121.02M |
| OpEx % of Revenue | 9.96% | 7.72% | -4.98% | -5.29% | 3.12% | 5.88% | 23.4% | 50.18% | 3.89% |
| Selling, General & Admin | 67.25M | 73.82M | 74.92M | 69.22M | 72.76M | 79.32M | 83.28M | 84.16M | 93.65M |
| SG&A % of Revenue | 10.53% | 6.03% | 6.48% | 3.87% | 4.13% | 4.58% | 4.31% | 4.42% | 3.01% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -3.62M | 20.79M | -132.47M | -163.87M | -17.8M | 22.52M | 369.32M | 870.36M | 27.37M |
| Operating Income | 86.65M▲ 0% | 286.11M▲ 230.2% | 508.01M▲ 77.6% | 1.05B▲ 107.3% | 713.59M▼ 32.2% | 502.4M▼ 29.6% | 327.4M▼ 34.8% | -248.33M▼ 175.8% | 1.44B▲ 678.5% |
| Operating Margin % | 13.57% | 23.36% | 43.96% | 58.86% | 40.49% | 29% | 16.93% | -13.06% | 46.12% |
| Operating Income Growth % | -31.37% | 230.2% | 77.55% | 107.27% | -32.23% | -29.6% | -34.83% | -175.85% | 678.49% |
| EBITDA | 252.89M | 521.65M | 759.31M | 1.35B | 1.09B | 886.25M | 737.15M | 119.08M | 1.89B |
| EBITDA Margin % | 39.6% | 42.58% | 65.71% | 75.71% | 61.99% | 51.15% | 38.11% | 6.26% | 60.52% |
| EBITDA Growth % | -14.71% | 106.28% | 45.56% | 78.37% | -19.34% | -18.88% | -16.82% | -83.85% | 1483.04% |
| D&A (Non-Cash Add-back) | 166.24M | 235.54M | 251.31M | 301.49M | 378.89M | 383.85M | 409.75M | 367.41M | 448.55M |
| EBIT | 81.8M | 282.38M | 508.94M | 1.05B | 738.02M | 541.46M | 320.15M | -274.38M | 1.44B |
| Net Interest Income | -12.91M | -30.64M | -26.55M | -15.8M | -8.81M | 1.12M | 4.59M | -14.11M | -25.7M |
| Interest Income | 0 | 0 | 0 | 0 | 2.98M | 11.96M | 18.52M | 20.73M | 12.67M |
| Interest Expense | 12.91M | 30.64M | 26.55M | 15.8M | 11.8M | 10.84M | 13.93M | 34.85M | 38.36M |
| Other Income/Expense | -17.75M | -18.99M | -25.62M | -18.51M | 12.63M | 28.22M | -7.06M | -60.9M | -442.66M |
| Pretax Income | 68.9M▲ 0% | 267.13M▲ 287.7% | 482.39M▲ 80.6% | 1.03B▲ 114.4% | 726.23M▼ 29.8% | 530.62M▼ 26.9% | 320.33M▼ 39.6% | -309.22M▼ 196.5% | 993.9M▲ 421.4% |
| Pretax Margin % | 10.79% | 21.81% | 41.74% | 57.82% | 41.21% | 30.63% | 16.56% | -16.26% | 31.91% |
| Income Tax | 7.33M | 132.36M | 173.53M | 362.01M | 265.4M | 243.89M | 278.75M | 317.43M | 559.73M |
| Effective Tax Rate % | 10.64% | 49.55% | 35.97% | 35% | 36.55% | 45.96% | 87.02% | -102.65% | 56.32% |
| Net Income | 56.85M▲ 0% | 28.94M▼ 49.1% | 293.38M▲ 913.8% | 628.06M▲ 114.1% | 420.06M▼ 33.1% | 252.87M▼ 39.8% | 10.1M▼ 96.0% | -629.89M▼ 6338.4% | 408.94M▲ 164.9% |
| Net Margin % | 8.9% | 2.36% | 25.39% | 35.11% | 23.84% | 14.6% | 0.52% | -33.12% | 13.13% |
| Net Income Growth % | 45.29% | -49.1% | 913.83% | 114.08% | -33.12% | -39.8% | -96.01% | -6338.4% | 164.92% |
| Net Income (Continuing) | 61.57M | 134.77M | 308.86M | 672.41M | 460.82M | 286.72M | 41.59M | -626.65M | 434.17M |
| Discontinued Operations | 0 | 0 | 6.98M | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 14.29M | 41.91M | 61.41M | 88.57M | 100.58M | 103.62M | 99.09M | 52.6M | 47.86M |
| EPS (Diluted) | 0.06▲ 0% | 0.10▲ 71.8% | 0.29▲ 190.0% | 0.59▲ 103.4% | 0.40▼ 32.2% | 0.24▼ 40.0% | 0.01▼ 96.6% | -0.48▼ 5953.7% | 0.28▲ 158.3% |
| EPS Growth % | 43.7% | 71.82% | 190% | 103.45% | -32.2% | -40% | -96.58% | - | 158.33% |
| EPS (Basic) | 0.06 | 0.03 | 0.29 | 0.60 | 0.40 | 0.24 | 0.01 | -0.48 | 0.31 |
| Diluted Shares Outstanding | 991.41M | 1.05B | 1.02B | 1.06B | 1.06B | 1.07B | 1.24B | 1.31B | 1.48B |
| Basic Shares Outstanding | 976.37M | 1.05B | 1.01B | 1.04B | 1.05B | 1.06B | 1.23B | 1.31B | 1.33B |
| Dividend Payout Ratio | - | - | 3.58% | 19.32% | 39.73% | 64.8% | 1883.22% | - | 25.74% |
BTG Balance Sheet
B2Gold Corp. (BTG) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 395.85M | 363.03M | 429.5M | 762.7M | 1.04B | 1.03B | 707.09M | 901.25M | 1.13B |
| Cash & Short-Term Investments | 147.47M | 102.75M | 140.6M | 479.69M | 672.09M | 651.65M | 305.32M | 348.33M | 384.59M |
| Cash Only | 147.47M | 102.75M | 140.6M | 479.69M | 672.09M | 651.65M | 305.32M | 336.77M | 379.73M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11.56M | 4.86M |
| Accounts Receivable | 41.94M | 26.31M | 46.74M | 28.2M | 42.3M | 43.26M | 48.45M | 66.47M | 90.26M |
| Days Sales Outstanding | 23.97 | 7.84 | 14.76 | 5.75 | 8.76 | 9.11 | 9.14 | 12.76 | 10.58 |
| Inventory | 206.44M | 233.97M | 217.92M | 238.06M | 271.99M | 331.88M | 344.72M | 477.3M | 626.08M |
| Days Inventory Outstanding | 154.29 | 99.25 | 112.8 | 104.61 | 99.9 | 107.36 | 109.01 | 145.69 | 146.75 |
| Other Current Assets | 0 | -1.95M | 22.02M | 11.86M | 54.19M | 3.85M | 0 | 0 | 0 |
| Total Non-Current Assets | 2.29B | 2.18B | 2.25B | 2.6B | 2.51B | 2.64B | 4.14B | 3.91B | 4.74B |
| Property, Plant & Equipment | 2.12B | 2.04B | 2.05B | 2.39B | 2.23B | 2.27B | 3.55B | 3.29B | 3.75B |
| Fixed Asset Turnover | 0.30x | 0.60x | 0.56x | 0.75x | 0.79x | 0.76x | 0.55x | 0.58x | 0.83x |
| Goodwill | 41.94M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 26.31M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 75.57M | 76.23M | 144.19M | 104.69M | 164.9M | 184.03M | 274.88M | 227.43M | 458.33M |
| Other Non-Current Assets | 39.85M | 35.3M | 61.31M | 83.43M | 116.61M | 187.13M | 305.61M | 392.98M | 452.87M |
| Total Assets | 2.69B▲ 0% | 2.55B▼ 5.1% | 2.68B▲ 5.3% | 3.36B▲ 25.3% | 3.56B▲ 5.8% | 3.68B▲ 3.5% | 4.85B▲ 31.8% | 4.81B▼ 0.8% | 5.87B▲ 22.0% |
| Asset Turnover | 0.24x | 0.48x | 0.43x | 0.53x | 0.50x | 0.47x | 0.40x | 0.40x | 0.53x |
| Asset Growth % | 14.94% | -5.12% | 5.31% | 25.32% | 5.77% | 3.46% | 31.8% | -0.79% | 21.98% |
| Total Current Liabilities | 494.54M | 207.25M | 165.06M | 286.09M | 230.88M | 233.51M | 311.87M | 580.34M | 1.06B |
| Accounts Payable | 95.09M | 80.32M | 83.37M | 89.06M | 111.56M | 114.74M | 166.26M | 156.26M | 174.48M |
| Days Payables Outstanding | 71.07 | 34.07 | 43.15 | 39.14 | 40.98 | 37.12 | 52.57 | 47.69 | 40.9 |
| Short-Term Debt | 302.63M | 25.01M | 26.03M | 34.11M | 25.37M | 15.51M | 16.17M | 16.41M | 33.81M |
| Deferred Revenue (Current) | 60M | 30M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 10.37M | 5.02M | 2.27M | 8.21M | 1.79M | 7.68M | 9.37M | 304.18M | 584.45M |
| Current Ratio | 0.80x | 1.75x | 2.60x | 2.67x | 4.52x | 4.43x | 2.27x | 1.55x | 1.06x |
| Quick Ratio | 0.38x | 0.62x | 1.28x | 1.83x | 3.35x | 3.01x | 1.16x | 0.73x | 0.47x |
| Cash Conversion Cycle | 107.19 | 73.02 | 84.41 | 71.22 | 67.68 | 79.36 | 65.57 | 110.75 | 116.43 |
| Total Non-Current Liabilities | 624.22M | 687.7M | 466.36M | 415.7M | 368.6M | 335.68M | 647.84M | 1.2B | 1.17B |
| Long-Term Debt | 399.55M | 454.53M | 192.29M | 0 | 0 | 0 | 141.91M | 391.46M | 544.96M |
| Capital Lease Obligations | 0 | 2.19M | 43.53M | 75.91M | 49.66M | 41.69M | 33.06M | 29.76M | 50.54M |
| Deferred Tax Liabilities | 81.52M | 103.38M | 145.59M | 220.9M | 187.63M | 182.43M | 187.14M | 169.64M | 151.07M |
| Other Non-Current Liabilities | 113.15M | 129.79M | 84.95M | 118.88M | 131.31M | 111.55M | 285.73M | 606.05M | 427.84M |
| Total Liabilities | 1.12B | 894.95M | 631.42M | 701.79M | 599.47M | 569.19M | 959.71M | 1.78B | 2.23B |
| Total Debt | 702.18M | 479.54M | 261.85M | 110.02M | 75.03M | 57.2M | 191.14M | 437.62M | 629.31M |
| Net Debt | 554.71M | 376.78M | 121.25M | -369.66M | -597.06M | -594.45M | -114.18M | 100.85M | 249.57M |
| Debt / Equity | 0.45x | 0.29x | 0.13x | 0.04x | 0.03x | 0.02x | 0.05x | 0.14x | 0.17x |
| Debt / EBITDA | 2.78x | 0.92x | 0.34x | 0.08x | 0.07x | 0.06x | 0.26x | 3.67x | 0.33x |
| Net Debt / EBITDA | 2.19x | 0.72x | 0.16x | -0.27x | -0.55x | -0.67x | -0.15x | 0.85x | 0.13x |
| Interest Coverage | 6.71x | 9.34x | 19.13x | 66.63x | 60.48x | 46.34x | 23.51x | -7.13x | 37.45x |
| Total Equity | 1.57B▲ 0% | 1.65B▲ 5.5% | 2.05B▲ 24.1% | 2.66B▲ 29.7% | 2.96B▲ 11.1% | 3.11B▲ 5.2% | 3.89B▲ 25.1% | 3.03B▼ 22.0% | 3.63B▲ 19.8% |
| Equity Growth % | 7.69% | 5.52% | 24.13% | 29.68% | 11.14% | 5.19% | 25.06% | -22.01% | 19.81% |
| Book Value per Share | 1.58 | 1.58 | 2.01 | 2.52 | 2.79 | 2.90 | 3.14 | 2.32 | 2.45 |
| Total Shareholders' Equity | 1.55B | 1.61B | 1.99B | 2.57B | 2.86B | 3.01B | 3.79B | 2.98B | 3.59B |
| Common Stock | 2.2B | 2.23B | 2.34B | 2.41B | 2.42B | 2.49B | 3.44B | 3.51B | 3.6B |
| Retained Earnings | -610.91M | -547.84M | -261.25M | 254.34M | 506.69M | 587.87M | 393.83M | -515.31M | -220.21M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -94.29M | -146.15M | -145.07M | -138.53M | -136.11M | -145.8M | -124.62M | -102.71M | 55.85M |
| Minority Interest | 14.29M | 41.91M | 61.41M | 88.57M | 100.58M | 103.62M | 99.09M | 52.6M | 47.86M |
BTG Cash Flow Statement
B2Gold Corp. (BTG) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 155M | 450.87M | 480.52M | 987.76M | 711.56M | 567.91M | 714.45M | 877.6M | 892.75M |
| Operating CF Margin % | 24.27% | 36.8% | 41.58% | 55.21% | 40.38% | 32.78% | 36.94% | 46.14% | 28.66% |
| Operating CF Growth % | -62.36% | 190.88% | 6.58% | 105.56% | -27.96% | -20.19% | 25.8% | 22.84% | 1.73% |
| Net Income | 61.57M | 45.12M | 293.06M | 661.24M | 416.37M | 242.85M | 41.59M | -626.65M | 408.94M |
| Depreciation & Amortization | -137K | -61.73M | 257.15M | 317.42M | 375.56M | 368.64M | 402.37M | 0 | 448.55M |
| Stock-Based Compensation | 18.13M | 21.69M | 0 | 0 | 0 | 0 | 18.17M | 24.68M | 0 |
| Deferred Taxes | -17.99M | 40.04M | 60.45M | 54.85M | -5.22M | -3.76M | -9.14M | 7.39M | -147.08M |
| Other Non-Cash Items | 139.5M | 395.22M | -82.03M | -130.61M | 29.85M | 71.65M | 388.87M | 1.75B | 227.74M |
| Working Capital Changes | -46.06M | 10.52M | -48.11M | 84.86M | -104.99M | -111.48M | -127.42M | -282.78M | -45.4M |
| Change in Receivables | -6.77M | 3.35M | -19.52M | 3.42M | -47.83M | -492.67K | -105.21M | -74.61M | -15.31M |
| Change in Inventory | -58.06M | -41.19M | -18.87M | -26.13M | -23.83M | -48.28M | -50.48M | -185.75M | -85.1M |
| Change in Payables | 20.39M | 1.36M | 5.43M | 7.41M | 11.97M | 1.14M | -21.38M | -1.18M | 70.25M |
| Cash from Investing | -346.84M | -273.47M | -268.9M | -355.81M | -283.76M | -373.38M | -845.34M | -763.3M | -908.37M |
| Capital Expenditures | -340.72M | -271.59M | -267.23M | -371.2M | -299.66M | -328.52M | -20.39M | -874.29M | -877.93M |
| CapEx % of Revenue | 53.35% | 22.17% | 23.12% | 20.75% | 17% | 18.96% | 1.05% | 45.97% | 28.19% |
| Acquisitions | -1.5M | -2.5M | 52.73M | 25.82M | 31.41M | -3.2M | 31.41M | 7.14M | 0 |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | -4.63M | 626K | -54.4M | 1.76M | -1.67M | -30.38M | -823.08M | 51.43M | 1.78M |
| Cash from Financing | 193.02M | -220.51M | -173.64M | -280.49M | -225.99M | -198.63M | -191.37M | -69.07M | 78.44M |
| Debt Issued (Net) | 196.78M | -193.88M | -234.73M | -196.91M | -31.88M | -21.32M | 135.85M | 240.21M | 202.73M |
| Equity Issued (Net) | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Dividends Paid | 0 | 0 | -10.51M | -121.36M | -166.89M | -163.87M | -190.15M | -184.63M | -105.25M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -10.02M |
| Other Financing | -31.22M | -48.27M | -3.03M | -10.81M | -33.6M | -27.15M | -150.17M | -134.72M | -90.41M |
| Net Change in Cash | 2.8M▲ 0% | -44.72M▼ 1698.7% | 37.84M▲ 184.6% | 339.09M▲ 796.0% | 192.4M▼ 43.3% | -20.44M▼ 110.6% | -345.05M▼ 1588.3% | 30.08M▲ 108.7% | 42.96M▲ 42.8% |
| Free Cash Flow | -217.4M▲ 0% | 179.27M▲ 182.5% | 213.29M▲ 19.0% | 667.28M▲ 212.9% | 467.53M▼ 29.9% | 300.5M▼ 35.7% | 638.09M▲ 112.3% | -23.66M▼ 103.7% | 66.38M▲ 380.6% |
| FCF Margin % | -34.04% | 14.63% | 18.46% | 37.3% | 26.53% | 17.34% | 32.99% | -1.24% | 2.13% |
| FCF Growth % | -457.19% | 182.46% | 18.97% | 212.86% | -29.94% | -35.73% | 112.34% | -103.71% | 380.59% |
| FCF per Share | -0.22 | 0.17 | 0.21 | 0.63 | 0.44 | 0.28 | 0.52 | -0.02 | 0.04 |
| FCF Conversion (FCF/Net Income) | 2.73x | 15.58x | 1.64x | 1.57x | 1.69x | 2.25x | 70.76x | -1.39x | 2.18x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
BTG Key Ratios
B2Gold Corp. (BTG) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 2.83% | 3.76% | 1.8% | 15.84% | 26.66% | 14.96% | 8.34% | 0.29% | -18.19% | 12.26% |
| Return on Invested Capital (ROIC) | 5.43% | 3.32% | 10.34% | 18.13% | 35.38% | 23.01% | 15.46% | 7.81% | -5.39% | 30.7% |
| Gross Margin | 30.74% | 23.53% | 29.77% | 38.98% | 53.57% | 43.61% | 34.88% | 40.33% | 37.13% | 50.01% |
| Net Margin | 5.73% | 8.9% | 2.36% | 25.39% | 35.11% | 23.84% | 14.6% | 0.52% | -33.12% | 13.13% |
| Debt / Equity | 0.33x | 0.45x | 0.29x | 0.13x | 0.04x | 0.03x | 0.02x | 0.05x | 0.14x | 0.17x |
| Interest Coverage | 12.40x | 6.71x | 9.34x | 19.13x | 66.63x | 60.48x | 46.34x | 23.51x | -7.13x | 37.45x |
| FCF Conversion | 10.52x | 2.73x | 15.58x | 1.64x | 1.57x | 1.69x | 2.25x | 70.76x | -1.39x | 2.18x |
| Revenue Growth | 23.41% | -6.53% | 91.81% | -5.67% | 54.8% | -1.49% | -1.68% | 11.64% | -1.67% | 63.76% |
BTG Frequently Asked Questions
B2Gold Corp. (BTG) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
B2Gold Corp. (BTG) reported $3.07B in revenue for fiscal year 2025.
B2Gold Corp. (BTG) grew revenue by 63.8% over the past year. This is strong growth.
Yes, B2Gold Corp. (BTG) is profitable, generating $404.3M in net income for fiscal year 2025 (13.1% net margin).
Dividend & Returns
Yes, B2Gold Corp. (BTG) pays a dividend with a yield of 1.68%. This makes it attractive for income-focused investors.
B2Gold Corp. (BTG) has a return on equity (ROE) of 12.3%. This is reasonable for most industries.
B2Gold Corp. (BTG) generated $59.4M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
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B2Gold Corp. (BTG) financial analysis — history, returns, DCA and operating performance tools
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